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Oct 4, 2012
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. >>> jobs, taxes, healthcare, and big bird! the first perez dishl debate is in the book -- presidential debate is in the books. >> looking at the cbs news instant polls, the former governor apparently knocked it out of the park. 500 uncommitted voters were asked who won this debate. 46% said romney was the winner, while only 22% said that the president was the victor this time. as for their view of romney, the man who has been fighting to ensure that he relates to the average american, 56% of the polls said they had a better opinion of the former governor after this debate. what started out as cordial quickly became heated. >> his proposal calls for a $5 trillion tax cut on top of $2 trillion of additional spending for the military. and he is saying that he is going to pay for it by closing loopholes and deductions. he's been asked over 100 times how he would close those loophole, and he hasn't identified them. >> if the tax plan he described airplane tax plan i was asked to support, i'd say absolutely not. i'm not looking for
. >>> jobs, taxes, healthcare, and big bird! the first perez dishl debate is in the book -- presidential debate is in the books. >> looking at the cbs news instant polls, the former governor apparently knocked it out of the park. 500 uncommitted voters were asked who won this debate. 46% said romney was the winner, while only 22% said that the president was the victor this time. as for their view of romney, the man who has been fighting to ensure that he relates to the average...
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Oct 8, 2012
10/12
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KBCW
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now these politicians say unless we send more tax dollars to sacramento, they'll cut education again. here's a new approach. prop thirty-eight sends billions in new education dollars straight to our local schools, and guarantees the politicians can't touch it. thirty-eight will restore the education cuts from sacramento. so remember this number. thirty-eight. on gasoline. i am probably going to the gas station about once a month. last time i was at a gas station was about...i would say... two months ago. i very rarely put gas in my chevy volt. i go to the gas station such a small amount that i forget how to put gas in my car. [ male announcer ] and it's not just these owners giving the volt high praise. volt received the j.d. power and associates appeal award two years in a row. ♪ 2 baseball play-off games... ...and a record setting performace by the 49ers... i >> sports scene was full of sports. record setting performance by the 49ers. i can capitalize this in about a minute. natives were restless. giants had to do something. ryan ludwig had other plans. the reds are off. the reds
now these politicians say unless we send more tax dollars to sacramento, they'll cut education again. here's a new approach. prop thirty-eight sends billions in new education dollars straight to our local schools, and guarantees the politicians can't touch it. thirty-eight will restore the education cuts from sacramento. so remember this number. thirty-eight. on gasoline. i am probably going to the gas station about once a month. last time i was at a gas station was about...i would say... two...
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Oct 6, 2012
10/12
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KBCW
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eye 390
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now these politicians say unless we send more tax dollars to sacramento, they'll cut education again. here's a new approach. prop thirty-eight sends billions in new education dollars straight to our local schools, and guarantees the politicians can't touch it. thirty-eight will restore the education cuts from sacramento. so remember this number. thirty-eight. called gutty, sc >>> hey, the giants 2010, they were built with so-called misfits. 2012? we'll see. got a minute? i do. here we go. dusty baker, still a very popular man in san francisco. getting love from will clark. the regular giants will be playing tomorrow. >> we'll see if they still love me on sunday. nothing better than me trying to figure out how to kick my butt and he's trying to figure out how to kick mine. >> atlanta chasing st. louis. two on, one out. i got it, i got it, you take it. oops. so the runners advance. the braves think okay, great, bases loaded. one trouble. they call the infield fly roll and that is how the fans reacted. threing bear cans, braves, braves end up losing 6-3. >> the orioles take out texas. 5-
now these politicians say unless we send more tax dollars to sacramento, they'll cut education again. here's a new approach. prop thirty-eight sends billions in new education dollars straight to our local schools, and guarantees the politicians can't touch it. thirty-eight will restore the education cuts from sacramento. so remember this number. thirty-eight. called gutty, sc >>> hey, the giants 2010, they were built with so-called misfits. 2012? we'll see. got a minute? i do. here we...
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Oct 1, 2012
10/12
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KBCW
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lopez wants specifics, which tax loopholes romney close? what will he do about immigration? >> you're holding out making a decision? >> yes, i'm still holding out, yes. >> reporter: that's why president obama was back in nevada today. both candidates are battling hard for this battleground state. >> romney for president? >> reporter: carpet bombing the air waves with the politicalads. >> my plan will create 12 million new jobs over the next four years. >> it is not just generating more jobs, you know, i'm going to create 1 more million jobs, tell me how, where. >> today it would be obama. tomorrow it could be romney. i can'ts promise anything. >> reporter: they both hope that the debates will help them finally make up their minds. bill whittaker, cbs news, las vegas. >>> 50,000 techis are invading san francisco today. they started today at the center. it is one of the world's biggest check conferences, attending the latest technology view that he will have to offer. >> the reason on what their plans are, the products they use. if you don't know what the plans are, then you c
lopez wants specifics, which tax loopholes romney close? what will he do about immigration? >> you're holding out making a decision? >> yes, i'm still holding out, yes. >> reporter: that's why president obama was back in nevada today. both candidates are battling hard for this battleground state. >> romney for president? >> reporter: carpet bombing the air waves with the politicalads. >> my plan will create 12 million new jobs over the next four years....
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Oct 5, 2012
10/12
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KBCW
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the real mitt romney has been running around the country for the last year promising $5 trillion in tax cuts that favor the wealthy. >> reporter: president obama will hold rallies in virginia and here in cleveland, ohio, friday. his new strategy is to paint mitt romney as a man who can't be trusted. the president is also attacking romney's comment from the debate that he would stop federal funding for pbs. >> thank goodness somebody is finally cracking down on big bird. >> i saw the president's vision as trickle down government. i don't think that's what america believes in. >> reporter: romney campaigns friday in virginia and florida. danielle nottingham. >> 33 days to the election. some voters won't have the luxury of a neighborhood polling place. they live in mandatory mail in areas. typically those are rural precincts. not always. some are inside cities and it's the ballot that's to blame. >> we have 151 ballot items for this election because of all the different jurisdictions, the city council districts. it's not the right ballot type for that voter. >> voters who fall into the man
the real mitt romney has been running around the country for the last year promising $5 trillion in tax cuts that favor the wealthy. >> reporter: president obama will hold rallies in virginia and here in cleveland, ohio, friday. his new strategy is to paint mitt romney as a man who can't be trusted. the president is also attacking romney's comment from the debate that he would stop federal funding for pbs. >> thank goodness somebody is finally cracking down on big bird. >> i...
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Oct 7, 2012
10/12
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KBCW
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you were talking tax and medicare and the shifting of tremendous of dollars this way -- trillions of dollars this way and that way. it was the messenger rather than the message and that is how politics is. has been since the days of washington. >> it's true. we'll find out more about the vice presidential debate coming up later on this week and what we can expect in our next half hour. meantime, a double disappointment yesterday for bay area baseball fans. >> you would have to bring that up. >> but, local college football teams on each side of the bay bounced back with double wins. here's more. >> reporter: good morning, everybody. am i going see everybody at the 49er-bills game? i better. it's on cbs 5, post quarter show following that game. and staying for football yesterday. got huge wins at carolina state. we're talking about the baseball play-off. brandon phillips take matt cane deep. the nlds game one last night, the reds were up 2-0. up 5-2. ties run and buster piecey in the 9th and -- buster posey in the 9th and ends it. later on the day, what about the as? they're in detroit
you were talking tax and medicare and the shifting of tremendous of dollars this way -- trillions of dollars this way and that way. it was the messenger rather than the message and that is how politics is. has been since the days of washington. >> it's true. we'll find out more about the vice presidential debate coming up later on this week and what we can expect in our next half hour. meantime, a double disappointment yesterday for bay area baseball fans. >> you would have to bring...
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Oct 7, 2012
10/12
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[video clip] >> my tax plan has lowered taxes for 98% of families, but i also lowered taxes for small businesses 18 times. what i want to do is continue the tax rates, the tax cuts we put into place for small businesses and families, but i have said for incomes over $250,000 per year that we should go back to the rates we had when bill clinton was president creating 23 million new jobs and creating more millionaires to boot. we can not only reduce the deficit, encourage job growth through small businesses that we're able to make the investments that are necessary in indication our energy. host: president obama wednesday night at the first debate. alan viard. guest: there are a few things i would take issue with. the bush tax cut to expire for the high income levels and we would be going back to the rate prevailed under president clinton. that is not quite right. there will be a new tax called the unearned medicare income tax will impose an extra 3.8% on interest, dividends, and capital gains. that will be 3.8% higher than clinton tax rates. there will also be a medicare tax will incre
[video clip] >> my tax plan has lowered taxes for 98% of families, but i also lowered taxes for small businesses 18 times. what i want to do is continue the tax rates, the tax cuts we put into place for small businesses and families, but i have said for incomes over $250,000 per year that we should go back to the rates we had when bill clinton was president creating 23 million new jobs and creating more millionaires to boot. we can not only reduce the deficit, encourage job growth through...
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calling a tax on g.d.p. . well it's rather simple really if you have ten thousand units of production in an economy and ten thousand units of credit or currency and the government comes along and says ok we're going to deficit spend so we're going to put another thousand units into there then the value of all of the units of credit in currency that currently exists go down by that amount so this is exactly identical from a functional standpoint as if the i.r.s. man showed up on down your door. and so give me ten percent of everything you have . unfortunately that would be very unpopular if you were to turn around and tell the american public oh guess what your taxes are not going up ten percent of what you currently pay they're going up by ten percent of your income and the tax on everything that you produce as a company is going up by ten percent of your production and yet that is essentially what's been going on now for the last four years and so when we look at why we haven't seen job growth and economic re
calling a tax on g.d.p. . well it's rather simple really if you have ten thousand units of production in an economy and ten thousand units of credit or currency and the government comes along and says ok we're going to deficit spend so we're going to put another thousand units into there then the value of all of the units of credit in currency that currently exists go down by that amount so this is exactly identical from a functional standpoint as if the i.r.s. man showed up on down your door....
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Oct 3, 2012
10/12
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CSPAN2
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we've had -- the tax, the church tax, we had the [inaudible] tax, we the grammy tax, panic at the pump. we had dinner, we country surface with rebekah brookes. [laughter] [laughter] he said the text remember? lol. [laughter] now what do we have? the minister murdoch becoming the minister for the national whole service. we have an international development secretary. she says she doesn't believe in international development. [laughter] again, e with have a party chairman who writes books about how to beat the recession under a false name. [laughter] i'm not making it up. i'm really not making it up. i have to say, if i was chairman of the conservative party, i would have a false name too. there it is. [applause] but here's my farted one, of course, -- my favorite one of all. he made an appointment in order to resign but david cameron was too competent to know that he wanted to resign. he's still in the government. they are so useless, they can't even resign properly. it's up to us. let he say to you, one tbhaition it another way of avoiding the difficult decisions. it's a way of making
we've had -- the tax, the church tax, we had the [inaudible] tax, we the grammy tax, panic at the pump. we had dinner, we country surface with rebekah brookes. [laughter] [laughter] he said the text remember? lol. [laughter] now what do we have? the minister murdoch becoming the minister for the national whole service. we have an international development secretary. she says she doesn't believe in international development. [laughter] again, e with have a party chairman who writes books about...
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Oct 4, 2012
10/12
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federal income tax, federal payroll tax, state income tax, state sales tax, state property tax, gasoline tax tadd up to well over 50% of what they earned. and your plan is to take the tax rate on successful small businesses from 35% to 40%. the national federation of independent businesses has said that will cost 700,000 jobs. i don't want to cost jobs. my priority is jobs. and so what i do is i bring down the tax rates, lower deductions and exemptions, the same idea behind bowles-simpson, get the rate down, lower deductions and exemptions to create more jobs because there's nothing better getting us to a balanced budget than having more people working, earning more money, paying more taxes, that's by far the most effective and efficient way to get this budget balanced. >> jim you may want to move on to another topic but i would like to say this to the american people, if you believe we can cut taxes by $5 trillion and add $2 trillion in additional spending that the military is not asking for, $7 trillion, just to give you a sense over 10 years, that's more than our entire defense budget
federal income tax, federal payroll tax, state income tax, state sales tax, state property tax, gasoline tax tadd up to well over 50% of what they earned. and your plan is to take the tax rate on successful small businesses from 35% to 40%. the national federation of independent businesses has said that will cost 700,000 jobs. i don't want to cost jobs. my priority is jobs. and so what i do is i bring down the tax rates, lower deductions and exemptions, the same idea behind bowles-simpson, get...
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Oct 8, 2012
10/12
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>> he proposes a 20% across-the- board tax cuts. >> marginal tax rate. >> alternative minimum tax. he proposes tax deductions in real-estate to reduce the deficits. what this means is, over time, $45 billion over the next decade. >> we are running short on time. the dough and paul debate. >> this is a deadly earnest. how they can justify raising taxes on the middle-class, who have been buried the last four years. how, in lord's name, can they justify raising their taxes? >> vice-president biden just today said that the middle-class over the last of we were years has been ". ." we agree. that means we need to stop digging by electing mitt romney the next president of the united states. >> what did you think, jonathan? >> you talk to a lot of folks in the romney campaign and they say joe biden is the gift that keeps on giving. you saw him pause when he said four years. i think he meant to say the last 10 years, and it came out wrong. this is fodder for the obama campaign. it will not change, i do not think, in a huge way, the course of events, but there is no question the obama campa
>> he proposes a 20% across-the- board tax cuts. >> marginal tax rate. >> alternative minimum tax. he proposes tax deductions in real-estate to reduce the deficits. what this means is, over time, $45 billion over the next decade. >> we are running short on time. the dough and paul debate. >> this is a deadly earnest. how they can justify raising taxes on the middle-class, who have been buried the last four years. how, in lord's name, can they justify raising their...
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Oct 5, 2012
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level with us about his tax plan which gives the wealthy huge new tax breaks? if we can't trust him here, how could we ever trust him here? >> the romney campaign has taken issue of course with what the obama campaign uses which is a tax policy center analysis. in that ad that draws on the -- to argue that mitt romney's tax plan depends on a $5 trillion tax cut that's not paid for. the conclusion they drew is the only way you offset those tax cuts over ten years, after handcuffing yourself on the pledges that romney has made to reduce tax rates across the board by 20% eliminating the alternative minimum tax and erasing the federal estate tax is to eliminate deductions that will inevitably touch the middle class. the romney folks say the obama campaign and tax policy center created a strawman. the problem is the romney campaign hasn't created their own and responded with any detail on how they would do it. it becomes impossible at least politically once you account for the pledge handcuffs that romney has made. while the president didn't fully acknowledge he cam
level with us about his tax plan which gives the wealthy huge new tax breaks? if we can't trust him here, how could we ever trust him here? >> the romney campaign has taken issue of course with what the obama campaign uses which is a tax policy center analysis. in that ad that draws on the -- to argue that mitt romney's tax plan depends on a $5 trillion tax cut that's not paid for. the conclusion they drew is the only way you offset those tax cuts over ten years, after handcuffing...
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Oct 4, 2012
10/12
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WTTG
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tax rate, they are taxed at lower tax rate. but those top 3% employee half the -- those are the businesses that employ one-quarter of all the workers in america. your plan is to take that tax rate from 38% to 40%. federal income tax, federal payroll tax, state income tax, state sales tax, gasoline tax, it adds up to 50% oo what they earn. your plan is to take the tax rate on successful small businesses from 35% to 40%. the national federation of businesses has said that will cost 700,000 jobs. i don't want to cost jobs.+ my priority is jobs. what i'd do is bring down the tax rate, lower deductions and exemptions, the same idea behind bowles-simpson, by the way. get the breaks down, lower deductions and exemptions, to create more jobs. there is nothing better for+ getting us to a balanced budget and having more people working, earning more money, pay more taxes. that is by far the most effective and efficient way to get this budget balanced. >> you mmy want to move on to another topic, but i would just say to the american people
tax rate, they are taxed at lower tax rate. but those top 3% employee half the -- those are the businesses that employ one-quarter of all the workers in america. your plan is to take that tax rate from 38% to 40%. federal income tax, federal payroll tax, state income tax, state sales tax, gasoline tax, it adds up to 50% oo what they earn. your plan is to take the tax rate on successful small businesses from 35% to 40%. the national federation of businesses has said that will cost 700,000 jobs....
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Oct 4, 2012
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this is a tax in itself -- the economy tax. gasoline prices have doubled under the president, electric rates are up, food prices are up, health-care costs have gone up by $2,500 per family. the question is how to get them going again. it is energy and trade. the right kind of training programs. the president mentioned those ideas. education. it is key. it is the future of our economy. we have 47 training programs. they are reporting to eight agencies. we have to get those dollars back to the states and to the workers so they can create pathways into training they need for jobs that will help them. taxation. we should bring the tax rates down. for corporations and individuals. for us not to lose revenue, i lowered deductions and credits and intentions so we keep taking in the same money when you account for growth. energy is critical. the president pointed out that production of oil and gas in the u.s. is up but not due to his policies -- in spite of his policies. all of the increase in natural gas and oil has happened on privat
this is a tax in itself -- the economy tax. gasoline prices have doubled under the president, electric rates are up, food prices are up, health-care costs have gone up by $2,500 per family. the question is how to get them going again. it is energy and trade. the right kind of training programs. the president mentioned those ideas. education. it is key. it is the future of our economy. we have 47 training programs. they are reporting to eight agencies. we have to get those dollars back to the...
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Oct 7, 2012
10/12
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FOXNEWS
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my tax plan. number 2, i will not reduce the share of high-paid income individuals. i know it's a popular thing to say with a lot of people, but it is just not the case. vifive boys. i am used to people saying something that is not always true and keep repeating it and hoping i will believe it. but that is not the case. all right? i will not reduce the taxes paid by high-income americans. number 3, i will not under any circumstances raise taxes on middle-income families. i will lower taxes on middle-income families. you cite a study. six other studies look at the study you describe and say it's wrong. i saw a study that said today you are going to raise taxes $3- to $4,000 on middle-income families. throw the studies out there. the bottom line is, i want to bring the rates down, at the same time, lower deductions and exemptions and credits and so forth so we keep getting the revenue we need. you thinks, why lower the rates? and the reason is because small business pays that individualerate. 54% of
my tax plan. number 2, i will not reduce the share of high-paid income individuals. i know it's a popular thing to say with a lot of people, but it is just not the case. vifive boys. i am used to people saying something that is not always true and keep repeating it and hoping i will believe it. but that is not the case. all right? i will not reduce the taxes paid by high-income americans. number 3, i will not under any circumstances raise taxes on middle-income families. i will lower taxes on...
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Oct 4, 2012
10/12
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CNNW
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tax rate, they're taxed at a lower rate. the businesses in the last 3% of businesses happen to employ half -- half of all people that work in small business. they employ one-quarter of all workers in america, and you want to take their tax rate from 35% to 40%. i talked to a guy with a very small business, he's in the electronics business in st. louis. he has four employees. he said he and his son calculated how much they pay in taxes, federal income tax, federal payroll tax, state sales tax, state property tax, gasoline tax, it added up to well over 50% of what they earned. and your plan is to take the tax rate on successful small businesses from 35% to 40%. the national federation of independent businesses says that will cost 700,000 jobs. i don't want to cost jobs. my priority is jobs. and so what i do, i bring down the tax rates, lower deductions and exemptions, the same idea by behind bowles-simpson, by the way, get the rates down, lower exemptions and create jobs. there's nothing better to get us to a balanced budget t
tax rate, they're taxed at a lower rate. the businesses in the last 3% of businesses happen to employ half -- half of all people that work in small business. they employ one-quarter of all workers in america, and you want to take their tax rate from 35% to 40%. i talked to a guy with a very small business, he's in the electronics business in st. louis. he has four employees. he said he and his son calculated how much they pay in taxes, federal income tax, federal payroll tax, state sales tax,...
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Oct 1, 2012
10/12
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CSPAN
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the -- there is a 4.8% tax, an additional 0.9% on your medicare tax. when does that, if you combine it, it is almost 5% increase without reversing of the bush tax cut. >> it is a substantial tax increase. >> for people like us with substantial incomes. >> i am the tax cut. the part of that i would endorse is the increase in the medicare tax. it is on pleasant and it is unpalatable. that is step one. >> what will the average person pay for their medicare tax a month for how long and when to get the 0.9% added? >> it is a good question. >> is added after one to $25,000? >> i think it is added after $200,000, or $250,000. i am not sure. right now, the medicare taxes 1.45% on all of your salary income. it would go to 2.35%. >> both sides talk about the $750 billion savings. [laughter] who is right? >> we had both become incredibly frustrated. it has to do with the way this is talked about in washington. it has nothing to do with what real people talk about with real money in their lives. the current projection is medicare spending would increase by hundred
the -- there is a 4.8% tax, an additional 0.9% on your medicare tax. when does that, if you combine it, it is almost 5% increase without reversing of the bush tax cut. >> it is a substantial tax increase. >> for people like us with substantial incomes. >> i am the tax cut. the part of that i would endorse is the increase in the medicare tax. it is on pleasant and it is unpalatable. that is step one. >> what will the average person pay for their medicare tax a month for...
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Oct 4, 2012
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CNNW
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tax cuts. you knew this was goingo be a big issue. president obama went on the attack saying mitt romney is essentially pitching a huge tax cut for the rich. >> governor romney's central economic plan calls for a $5 trillion tax cut on top of the extension of the bush tax cuts, that's another trillion and $2 trillion in additional military spending that the military hasn't asked for. >> mitt romney does propose across the board 20% tax cuts in the nonpartisan tax center says under that plan, taxes on the wealthiest americans would be reduced by $5 trillion. initially. but romney says he would offset the cuts with reductions and deductions and closing loopholes that will reduce the tax cut for the wealthy. so our verdict here is that president's saying he would cut the taxes by $5 trillion on wealthy is false because any deduction you take out will make it smaller. there is more to this story. on the deficit, mitt romney claims with the tax cuts he'll not add to the deficit. >> my number one pri
tax cuts. you knew this was goingo be a big issue. president obama went on the attack saying mitt romney is essentially pitching a huge tax cut for the rich. >> governor romney's central economic plan calls for a $5 trillion tax cut on top of the extension of the bush tax cuts, that's another trillion and $2 trillion in additional military spending that the military hasn't asked for. >> mitt romney does propose across the board 20% tax cuts in the nonpartisan tax center says under...
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Oct 4, 2012
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CURRENT
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federal tax, state tax, state income tax gasoline tax, it added up to well over 50% of what they earned. and your plan is to take the tax rate successful small businesses from 35% to 40%. that will cost jobs. my priority is jobs so what i do is bring down the tax rates, lower deductions and exemptions. create more jobs because there's nothing better for getting us to an balanced budget than having more people working, earning more money, paying more taxes, that's by far the more efficient way to get this balanced. >> obama: jim, i would just say this to the american people if you believe we can cut taxes by $5 trillion and add $2 trillion in additional spending that the military is not asking for -- $7 trillion just to give you a sense over ten year's that's more than our entire defense budget and you think that by closing loop holes and deductions for the well to do somehow you will not end up picking up the tab, then governor romney's plan may work for you, but i think math common sense and our history shows us that's not a recipe for job growth. we have tried this -- we have tried bo
federal tax, state tax, state income tax gasoline tax, it added up to well over 50% of what they earned. and your plan is to take the tax rate successful small businesses from 35% to 40%. that will cost jobs. my priority is jobs so what i do is bring down the tax rates, lower deductions and exemptions. create more jobs because there's nothing better for getting us to an balanced budget than having more people working, earning more money, paying more taxes, that's by far the more efficient way...
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Oct 5, 2012
10/12
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MSNBC
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of these tax cuts. but romney didn't need to address any of these specifics. he just needed to lie about it. it's a strategy another president used when he was asked about his proposed tax cuts for the rich. >> let me just tell you what the facts are. the facts are, after my plan, the wealthiest of americans pay more taxes of the percentage of the whole than they do today. >> really? here we go again. a republican candidate has a plan for massive tax cuts for the rich and tells the american people the exact opposite in a debate. it only works if the candidate is a good liar. presentation does matter. give him credit. last night mitt romney was pretty good on style, but he had a boat load of lies. check out this triple whammy where romney spits out one lie after another with complete conviction. >> we didn't raise taxes. you've raised them by $1 trillion under obama care. we didn't cut medicare, of course, we don't have medicare, but we didn't cut medicare by $716 billion. we didn't put in place a board
of these tax cuts. but romney didn't need to address any of these specifics. he just needed to lie about it. it's a strategy another president used when he was asked about his proposed tax cuts for the rich. >> let me just tell you what the facts are. the facts are, after my plan, the wealthiest of americans pay more taxes of the percentage of the whole than they do today. >> really? here we go again. a republican candidate has a plan for massive tax cuts for the rich and tells the...
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Oct 6, 2012
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of all of that money going to the super wealthy. >> so, are promises of massive tax hikes, taxing the jobs market? hi, everyone, i'm brenda buttner, this is bulls and bears, here they are, bulls and bears this week, gary b smith, tobin smith, jonas max ferris, along with julian epstein and larry, talk about future tax hikes, holding back a jobs recovery? >> that's right, that's right, brenda. well, you know, certainly for consumers that are work being that have 401(k) plans they may be feeling more confident these days, but their employers don't share the optimism. they're worried what's ahead and what's ahead are future tax increases, for small business owners still, these are people that own delis and dry cleaners and pave your driveways, not fat cats and million fairs and billionaires, they're average work people and concerned about the environment. and national independent business owners a record number of people. a bad time to start a business and a bad time to hire people. and that's not going to inspire jobs in this country, which is exactly what we need right now. >> okay, cl
of all of that money going to the super wealthy. >> so, are promises of massive tax hikes, taxing the jobs market? hi, everyone, i'm brenda buttner, this is bulls and bears, here they are, bulls and bears this week, gary b smith, tobin smith, jonas max ferris, along with julian epstein and larry, talk about future tax hikes, holding back a jobs recovery? >> that's right, that's right, brenda. well, you know, certainly for consumers that are work being that have 401(k) plans they may...
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a candidate says i'm going to lower the tax rates but i'm going to broaden the tax base. what you get is lower rates, you get a lot of the former, you get very little of the latter. because like bob says, once you start going into how you're going to broaden the base, then it's don't look at me, look at the other guy. so the danger of this tax reform trap that governor romney is trying to sell right now is that you're going to end up with massively lower tax rates and you're not going to broaden the base much at all such that you'll have an explosive budget deficit, it's very much what we saw in the bush supply side trickle down years. >> bob, debatess left. the vice presidential debate, the town hall presidential debate and then the debate on foreign policy. >> i think we throw out the myth that somehow or other only the first debates matter. i think the other debates will have big audiences. i'm through with the expectations game. i think vice president biden will do very well next week. i think the president will bring his best game to these next two debates. this guy
a candidate says i'm going to lower the tax rates but i'm going to broaden the tax base. what you get is lower rates, you get a lot of the former, you get very little of the latter. because like bob says, once you start going into how you're going to broaden the base, then it's don't look at me, look at the other guy. so the danger of this tax reform trap that governor romney is trying to sell right now is that you're going to end up with massively lower tax rates and you're not going to...
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in fact, when you do those sorts of tax cuts there are costs to those tax cuts. the big etan drivegest driver r deficit -- >> chris: if i may, sir. you are talking about half of the planet it would be like talking about obama's jobs plans and saying the entire are plan is to give more money to teachers. it is not obama's plan. similarly you are mischaracterizing the romney plan. saying you're right there is $5 trillion lowering the tax rates but he talks about cutting loopholes. but that is part of the plan. >> but he won't say, chris, which loopholes and which deductions. senator, i doubt seriously you would be if favor of doing away or cutting the home mortgage deduction for middle class americans. governor romney has not said what the plan is for paying for the $5 trillion in tax cuts just like he won't talk about what his tax returns have been or -- >> with all due reis spect, governor, first of all, governor romney made is clear in the debate and he was actually able to speak directly to the american people that he is not going to lower the burdening on up y
in fact, when you do those sorts of tax cuts there are costs to those tax cuts. the big etan drivegest driver r deficit -- >> chris: if i may, sir. you are talking about half of the planet it would be like talking about obama's jobs plans and saying the entire are plan is to give more money to teachers. it is not obama's plan. similarly you are mischaracterizing the romney plan. saying you're right there is $5 trillion lowering the tax rates but he talks about cutting loopholes. but that...
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tax reform is hard. the tax code will be00 years old less year and we have had less than a handful of comprehensive reforms as a going-in proposition, it's hard to do. >> i have sympathy for what doug said as well. however here's the thing i watched the debate with a bunch of students out of notre dame university and there was a ton of head scratching going on. i want to quote some of the things the governor said. >> brown: it's a good school so there should be smart students. >> he said "i will not reduce the taxes paid by high income americans. i will not reduce the taxes paid by high income americans." now this is a guy who's going around saying i'm going to have a very large tax cut. >> brown: what does that mean, do you think there? >> what it means is that mitt romney makes a real distinction between cuts in tax rates and cuts in tax liability cuts in what you have to pay the i.r.s. what he's saying is to the wealthy folks we'll cut your rates but raise your deductions so your taxes will be the sam
tax reform is hard. the tax code will be00 years old less year and we have had less than a handful of comprehensive reforms as a going-in proposition, it's hard to do. >> i have sympathy for what doug said as well. however here's the thing i watched the debate with a bunch of students out of notre dame university and there was a ton of head scratching going on. i want to quote some of the things the governor said. >> brown: it's a good school so there should be smart students....
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pairs with it fast tax legislation tax reform. it replaces the discretionary cuts across the board with longer term reductions in mandatory spending. it would be nice to see the senate come up with sending to go to conference and hammer this out. that is a way to do this. the tax reform, as i mentioned will be really hard. on february 3rd of next year, the 16th amendment, that is my birthday, so everyone write it down, the 16th amendment will be 100 years old. that's what gave us income tax. our income tax is 100 years old. in those 100 years we have had less than a handful of comprehensive reforms. so the notion we're going do that in a lame duck is insanity. it is going to be hard to do to begin with. i think we ought to acknowledge that. grease the skids as much as possible. extend current policy commit to doing tax reform and get it done in 2013 because it is part of what is necessary for us to thrive economically over the long term. >> can i make a comment on that? doug is really knocking down a straw man. nobody is suggestin
pairs with it fast tax legislation tax reform. it replaces the discretionary cuts across the board with longer term reductions in mandatory spending. it would be nice to see the senate come up with sending to go to conference and hammer this out. that is a way to do this. the tax reform, as i mentioned will be really hard. on february 3rd of next year, the 16th amendment, that is my birthday, so everyone write it down, the 16th amendment will be 100 years old. that's what gave us income tax....
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the estate tax. we'll give the top 1/10 of taxpayers an average break of $250,000. >> look, look, andrea, mitt romney pointed out that one of the things that he would do is to put a cap on the deductions. the tax policy center admitted that what they analyzed was assumptions they added to mitt romney's plan that are not deduction. >> which deductions. >> let me finish. i let you finish. now let me fin. >> yes, sir. >> the tax policy center admitted that they made assumptions that were not part of mitt romney's tax plan. there are six or seven follow-up studies that say romney's tax plan can do what the governor has said he would. he's going to eliminate or cap deductions on upper income brackets there is more enough in the basket of choices there to take care of providing the to 20% tax reduction to the middle class. >> no, there are not. >> with all due respect to what obama people are putting out, they're wrong on it. >> i'm not talking about what the obama people are talking. first of all, those a
the estate tax. we'll give the top 1/10 of taxpayers an average break of $250,000. >> look, look, andrea, mitt romney pointed out that one of the things that he would do is to put a cap on the deductions. the tax policy center admitted that what they analyzed was assumptions they added to mitt romney's plan that are not deduction. >> which deductions. >> let me finish. i let you finish. now let me fin. >> yes, sir. >> the tax policy center admitted that they made...
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raises taxes. small businesses tell me this is their single largest concern. >> the next question is for mr. murphy. >> regardless what happens with the affordable care act, the government will remain deeply involved in government health care. i want to ask about a very sensitive part of health cost- containment. one third of u.s. health spending is to take care of americans in their last year of life. does that need to change and how this government tackle something like that without the debate quickly turning into talk about government death panels and health-care rationing? >> we need to make a commitment to be blunt public health care systems like medicare and medicaid that we are going -- public health care systems that we're going to take care of them. that's my commitment as a u.s. senator. but in order to do that, the have to have a medicare and medicaid program that works for those individuals and is not just designed to pad the bottom lines of insurance companies. this is where linda mcma
raises taxes. small businesses tell me this is their single largest concern. >> the next question is for mr. murphy. >> regardless what happens with the affordable care act, the government will remain deeply involved in government health care. i want to ask about a very sensitive part of health cost- containment. one third of u.s. health spending is to take care of americans in their last year of life. does that need to change and how this government tackle something like that...
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this ignores the property taxes, forgave annually for business taxes. it's more than just $150 million; right? >> oh, absolutely. that gets to the heart of the problem with government subsidies is that these companies, once dependent on the federal government and the taxpayers' dollar, they stay dependent on the government's dollar. that's why we see programs like the ethanol policy continually dependent on the government since 1978 and once they get stuck on this government dependence, it's hard to wean them off because they really don't understand their true cost point, and they don't have that true incentive to be competitive. gerri: they exploit the money, go after it, they know how to do it. nick, congressman, thank you for coming on tonight ill line illug this program. i hope you both come back, thank you. >> thank you. >> thank you. gerri: all right. many employers cutting back, restaurantings seeing the strongest year in a decade, by the hiring boom comes from a caveat. they are part-time jobs. our guest yesterday told us why that is obamacare.
this ignores the property taxes, forgave annually for business taxes. it's more than just $150 million; right? >> oh, absolutely. that gets to the heart of the problem with government subsidies is that these companies, once dependent on the federal government and the taxpayers' dollar, they stay dependent on the government's dollar. that's why we see programs like the ethanol policy continually dependent on the government since 1978 and once they get stuck on this government dependence,...
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Oct 6, 2012
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they were not taxes of the last four years they are taxes of the future. you have had massive regulation in the last four years and executive orders coming out of the federal government and viserating the congressional man date and letting the bureaucracy run the country and you have lists of them down here of over 900 executive orders and where they are abdicating the responsibility of congress and legislature and giving it to the burrcrats to run the country. it is outrageous. >> what i thought was so interesting about vice-president biden's comments 24 hours before the presidential. but setting up the middle class is effected and that is what mitt romney said middle class is suffer it has been the last four years. >> the economy is suffering under the government intervention. we often times don't think of regulations as being a tax. it is a tax not only on wealth creation but individual freedom and take the credit card act that was regulation and pass , a few years ago and had hoped to help the middle class . it made credit more expensive and difficult
they were not taxes of the last four years they are taxes of the future. you have had massive regulation in the last four years and executive orders coming out of the federal government and viserating the congressional man date and letting the bureaucracy run the country and you have lists of them down here of over 900 executive orders and where they are abdicating the responsibility of congress and legislature and giving it to the burrcrats to run the country. it is outrageous. >> what i...
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vo: why won't romney level with us about his tax plan, which gives the wealthy huge new tax breaks? because according to experts, he'd have to raise taxes on the middle class - or increase the deficit to pay for it. if we can't trust him here... how could we ever trust him here? . >>> they're back. the pesky stink bugs. the government said that they have returned in a big quay. many more than last year. you don't have to tell that to the people near linden, virginia. that is where beth parker has paid a visit today. >> stink bug heaven. >> reporter: you can s.w.a.t. them or sweep them. you can't get away. >> there's millions of them. it's the worst thing i have seen in my life. >> reporter: not what he had in mind when he retired and moved to the country. hosted to be closer to nature and nature's too close. >> it's like bug stew. >> can you take some home for dinner if you want. [ laughter ] >> reporter: no, thanks. >> seriously, he would love to get rid of them. their real name is the brown marmarated stink bug and he calls them? >> yucky. terage. >> reporter: he live -- teage. >>
vo: why won't romney level with us about his tax plan, which gives the wealthy huge new tax breaks? because according to experts, he'd have to raise taxes on the middle class - or increase the deficit to pay for it. if we can't trust him here... how could we ever trust him here? . >>> they're back. the pesky stink bugs. the government said that they have returned in a big quay. many more than last year. you don't have to tell that to the people near linden, virginia. that is where beth...
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tax havens. mitt romney avoided paying his fair share. what else is he hiding? >>> joining me now, david k johnston author of the new book, "the fine print" and karen finney. david k. johnstone, the times got tax experts to look at the tax returns and some documents they obtained from bain from this new report today. what did we learn? >> well, the cayman islands 4 hundred years ago was a hang out for pirates now it's a hang out for tax pirates. instead of a buried map of where the tresh is, now you get this opinion letters from lawyer, if you follow one every one of these steps, you can get your treasure untaxed to the cayman islands. one of the things the times points out because of the way these were set up and the fees they were charged against them, the less taxes paid by those who were investing, the greater the sum available and therefore the higher the fees that romney collected. >> karen finney, romney, you get the sense the romney campaign expected that the tax return story was a story
tax havens. mitt romney avoided paying his fair share. what else is he hiding? >>> joining me now, david k johnston author of the new book, "the fine print" and karen finney. david k. johnstone, the times got tax experts to look at the tax returns and some documents they obtained from bain from this new report today. what did we learn? >> well, the cayman islands 4 hundred years ago was a hang out for pirates now it's a hang out for tax pirates. instead of a buried map...
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taxes. less regulation. more jobs, more success and more opportunity. i support cutting taxes for small business men and women to help them create and retain more jobs whereas my opponent supports raising taxes on small businesses which will mean fewer jobs. i support a moratorium on new red tape and regulation except for the safety and health of the public until the unemployment levels come down. my opponent has said that he supports more regulation that will end up meaning less growth and less jobs. i oppose a obamacare and want to repeal it and replace it with patient centered health care reform. my opponent supports a obamacare and says it is working but even wants to expand on it. these are some of the differences that you will hear tonight. i think the chamber for having asked. i look forward to a robust debate on the issues facing the voters. [applause] i am a husband, father, soldier, small businessmen and lawyers. i am mostly brought to be an american in virginia. you're going to he
taxes. less regulation. more jobs, more success and more opportunity. i support cutting taxes for small business men and women to help them create and retain more jobs whereas my opponent supports raising taxes on small businesses which will mean fewer jobs. i support a moratorium on new red tape and regulation except for the safety and health of the public until the unemployment levels come down. my opponent has said that he supports more regulation that will end up meaning less growth and...
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>> if you extend the bush tax cuts you don't cut taxes you keep taxes where they are. if you don't extend the bush tax cuts you raise taxes. if you don't extend the bush tax cuts in total you raise taxes. >> they're set to expire. it was your party that set them to expire. i would add. i wasn't -- sitting here at the desk i didn't do that the republican party was the one that decided to do that so you guys had to deal with the sunset provision. >> it's not an accounting measure. they're going to -- of course it's an accounting measure. >> i pay a certain level of tax this career. next year if the bush tax cuts expire i get a big tax increase but if the bush tax cuts don't expire i pay the same tax next year the same as i do this year. >> because you make a lot of money. mr. giuliani, you have a very large tax cut because you are, to your great credit, a high-earning individual and you'll see a large bounty from the tax cut. that's the question on the table. >> stop the ad silliness. the reality is it's true for everyone. let me finish my answer, rather than yelling and
>> if you extend the bush tax cuts you don't cut taxes you keep taxes where they are. if you don't extend the bush tax cuts you raise taxes. if you don't extend the bush tax cuts in total you raise taxes. >> they're set to expire. it was your party that set them to expire. i would add. i wasn't -- sitting here at the desk i didn't do that the republican party was the one that decided to do that so you guys had to deal with the sunset provision. >> it's not an accounting...
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he cannot cut tax rates, cut taxes on the middle class, cut taxes on capital gains, and balance the budget all at once. >> reporter: romney advisers have said they would consider eliminating tax breaks on at least two forms of saving, life insurance and muni bonds. and the governor's supporters argue tax cuts generate enough growth to offset some of their cost. >> people can have reasonable disagreements about the magnitude of that growth effect, but to assume that it is zo, i think, is wrong. and once you relax that assumption, then, all of a sudden, other things start to be possible. >> reporter: but it's hard to be sure about the impact of tax cuts on the economy, which is why the experts in congress and the treasury who are responsible for estimating the cost of tax changes generally ignore the impact of tax reforms on the entire economy. darren gersh, nbr, washington. >> susie: here on wall street, traders and investors were taking a fresh look at stock sectors today, assessing what a romney or obama win would mean for the markets. so a lot of talk about minutes from the latest federa
he cannot cut tax rates, cut taxes on the middle class, cut taxes on capital gains, and balance the budget all at once. >> reporter: romney advisers have said they would consider eliminating tax breaks on at least two forms of saving, life insurance and muni bonds. and the governor's supporters argue tax cuts generate enough growth to offset some of their cost. >> people can have reasonable disagreements about the magnitude of that growth effect, but to assume that it is zo, i...
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at the same time that my tax plan has already lowered taxes for 98% of families, i also lowered taxes for small bi businesses 18 times. what i want to do is continue the tax rates, the tax cuts that we put into place for small businesses and families. but i have said that for incomes over $250,000 a year, that we should go back to the rates that we had when bill clinton was president, when we created 23 million new jobs, went from deficit to surplus and created a whole lot of millionaires to boot. and the reason this is important is because by doing that, we cannot only reduce the deficit, we cannot only encourage job growth through small businesses, but we're able to make the investments that are necessary in education, or in energy. and we do have a difference, though, when it comes to definitions of small business. under my plan, 97% of small businesses would not see their income taxes go up. governor romney says, well, the top 3%, they're the job creators, they'd be burdened. but under governor romney's definition, there are millionaires and billionaires who are small business. do
at the same time that my tax plan has already lowered taxes for 98% of families, i also lowered taxes for small bi businesses 18 times. what i want to do is continue the tax rates, the tax cuts that we put into place for small businesses and families. but i have said that for incomes over $250,000 a year, that we should go back to the rates that we had when bill clinton was president, when we created 23 million new jobs, went from deficit to surplus and created a whole lot of millionaires to...
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about taxing the wealthy, and he's talking about taxing planes. i own a plane. >> that's you. >> i was like, oh, okay. thanks a lot, president obama. r. i just served my mother-in-law your chicken noodle soup but she loved it so much... i told her it was homemade. everyone tells a little white lie now and then. but now she wants my recipe [ clears his throat ] [ softly ] she's right behind me isn't she? [ male announcer ] progresso. you gotta taste this soup. ♪ [ male announcer ] its lightweight construction makes it nimble... ♪ its road gripping performance makes it a cadillac. introducing the all-new cadillac xts. available with advanced all-wheel drive. [ engine revving ] it's bringing the future forward. throughout our lives. one a day men's 50+ is a complete multi-vitamin designed for men's health concerns as we age. it has more of 7 antioxidants to support cell health. one a day men's 50+. turn to senokot-s tablets. senokot-s has a natural vegetable laxative ingredient plus the comfort of a stool softener for gentle, overnight relief of
about taxing the wealthy, and he's talking about taxing planes. i own a plane. >> that's you. >> i was like, oh, okay. thanks a lot, president obama. r. i just served my mother-in-law your chicken noodle soup but she loved it so much... i told her it was homemade. everyone tells a little white lie now and then. but now she wants my recipe [ clears his throat ] [ softly ] she's right behind me isn't she? [ male announcer ] progresso. you gotta taste this soup. ♪ [ male announcer ]...
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my tax plan. number 2, i will not reduce the share of high-paid income individuals. i know it's a popular thing to say with a lot of people, but it is just not the case. vifive boys. i am used to people saying something that is not always true and keep repeating it and hoping i will believe it. but that is not the case. all right? i will not reduce the taxes paid by high-income americans. number 3, i will not under any circumstances raise taxes on middle-income families. i will lower taxes on middle-income families. you cite a study. six other studies look at the study you describe and say it's wrong. i saw a study that said today you are going to raise taxes $3- to $4,000 on middle-income families. throw the studies out there. the bottom line is, i want to bring the rates down, at the same time, lower deductions and exemptions and credits and so forth so we keep getting the revenue we need. you thinks, why lower the rates? and the reason is because small business pays that individualerate. 54% of
my tax plan. number 2, i will not reduce the share of high-paid income individuals. i know it's a popular thing to say with a lot of people, but it is just not the case. vifive boys. i am used to people saying something that is not always true and keep repeating it and hoping i will believe it. but that is not the case. all right? i will not reduce the taxes paid by high-income americans. number 3, i will not under any circumstances raise taxes on middle-income families. i will lower taxes on...
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companies that are taxed at the individual tax rate. if you raise taxes on them, they have less money to spend. and to hire people with. the best way to get a balanced budget at the federal government level is to have this economy grow so more people are working. if more people are working, more people are paying taxes. by the way, if there is competition, trying to hire people -- if there is lots of business activity, wages go up, take-home pay goes up. that's more tax revenue. by far the most powerful way to get us to a balanced budget is to grow the economy. that's why my tax plan, which is estimated to create 7 million jobs, will help us more than anything else to get to that balanced budget. >> sean: i know this was not about foreign policy last night. we have been following very closely on this program, the issue in benghazi, the death of our ambassador, the first time in 30 years, two navy seals. do you believe there is a coverup going on? >> well, sean, first, let me note my condolences and sympathy for the families of those who
companies that are taxed at the individual tax rate. if you raise taxes on them, they have less money to spend. and to hire people with. the best way to get a balanced budget at the federal government level is to have this economy grow so more people are working. if more people are working, more people are paying taxes. by the way, if there is competition, trying to hire people -- if there is lots of business activity, wages go up, take-home pay goes up. that's more tax revenue. by far the most...
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federal income tax, federal payroll tax, state sales tax, state property tax, gasoline tax added up to well over 50% of what they earned. in your plan is to take the tax rate on successful small businesses from 35% to 40%. the national federation of independent businesses has said that will cost 700,000 jobs. i don't want to cost jobs. my priority is jobs. and so, what i do is bring down the tax rates. lower deductions and exemptions. the same idea behind simpson/bowles, by the way, get the rates down to create more jobs because there is nothing better for getting us to a balanced budget than having more people working, earning more money, pay more taxes. that is by far the most effective and efficient way to get this budget balanced. obama: jim come you may want to move onto another topic, but i want to say this to the american people. if you believe we can cut taxes by $5 trillion that $2 trillion in additional spending that the military is not asking for, $7 trillion, just to get a sense of her 10 years, that is more than our entire defense budget. anything by closing loopholes and
federal income tax, federal payroll tax, state sales tax, state property tax, gasoline tax added up to well over 50% of what they earned. in your plan is to take the tax rate on successful small businesses from 35% to 40%. the national federation of independent businesses has said that will cost 700,000 jobs. i don't want to cost jobs. my priority is jobs. and so, what i do is bring down the tax rates. lower deductions and exemptions. the same idea behind simpson/bowles, by the way, get the...
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how in lord's name can they justify raising their taxes with these tax cuts? >> two questions, is there more pressure on the vice president now to be aggressive coming off the president's debate, and are you worried about gaffes like that? >> well, look, i don't think that was a gaffe, george. i think what the vice president was talking about is what he's talked about every day, which is a series of eight years of -- >> he said they were buried the last four years. >> well, we've been digging out for what was an avalanche of bad economic decisions over the past eight years during the bush administration, and what mitt romney and paul ryan want to do is take us back to that exact same failed economic theory, talk down tax cuts, eviscerating the investments we know we need to grow our economy from the middle out rather than from the top down. look, i know vice president biden. i know he's looking forward to having a spirited exchange about ideas. i simply hope this, i hope what paul ryan does is something fundamentally different than what mitt romney does, and t
how in lord's name can they justify raising their taxes with these tax cuts? >> two questions, is there more pressure on the vice president now to be aggressive coming off the president's debate, and are you worried about gaffes like that? >> well, look, i don't think that was a gaffe, george. i think what the vice president was talking about is what he's talked about every day, which is a series of eight years of -- >> he said they were buried the last four years. >>...
SFGTV2: San Francisco Government Television
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that is to move our payroll tax to gross receipt tax and why? because by doing that we can create jobs in san francisco and keep people in san francisco . the kids are growing up and we want them to stay but we need jobs. i agree with mr. crowley with the police force and make sure that is fully staffed and i have been speaking to the police athletic league and they have a program to breen the teenagers to be interns in the police force and they would feed into the police cadet program. thank you. >> thank you sir. the next question the city's liabilities are projected to increase in the next coming year. s what new or increased fees should it institute and i will repeat the question and we will begin with mr. crowley. >> i would say that one of the bigger things that we will have before us is the gross receipts tax check that norman talked about trading from the payroll tax which is punitive. the next thing i would do is increase the foot print on mos sony center and that brings in a lot of money to the general fund and erect a multi-purpose ar
that is to move our payroll tax to gross receipt tax and why? because by doing that we can create jobs in san francisco and keep people in san francisco . the kids are growing up and we want them to stay but we need jobs. i agree with mr. crowley with the police force and make sure that is fully staffed and i have been speaking to the police athletic league and they have a program to breen the teenagers to be interns in the police force and they would feed into the police cadet program. thank...
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the income on payroll taxes stops at $110,000. >> it's a flat tax. >> it's actually a regressive tax. if you earn $500,000, you're not paying any payroll tax. it's ridiculous. >> assessing something you can't hardly assess, but this is when they all come back after the election, what in the hell is going to happen? how do you read it right now? what are the leaders saying? >> it all comes down to the presidential election, every party is waiting to see what happens and no one really knows, it's going to take real leadership. if anything's going to get done, it's going to be mitch mcconnell. >> this president's going to go over the fiscal cliff. >> what's going on? big tax cuts? big tax -- >> coming up next, my pal steve meister. are you expecting just as an ordinary person who writes the occasional column and follows the politics, do you think we're going have a big smacking huge tax hike after the election, do you think the so-called tax cliff we're all going to fall into it? >> we're at this fiscal cliff, obama is going to engage in this class warfare his entire four years and he ha
the income on payroll taxes stops at $110,000. >> it's a flat tax. >> it's actually a regressive tax. if you earn $500,000, you're not paying any payroll tax. it's ridiculous. >> assessing something you can't hardly assess, but this is when they all come back after the election, what in the hell is going to happen? how do you read it right now? what are the leaders saying? >> it all comes down to the presidential election, every party is waiting to see what happens and...
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we don't want to tax more people with bad tax policy. we want to grow the middle class and get people back to work with higher take home fay. the secret to this is economic growth, chris. the premise of the conversations and tax reform point is as if the economic pie is fixed and that it is governments if job to redistribute the slices. is not how the world works. we want to grow the pie and we want economic opportunity. we want people to be able to get a better job and have more income security and higher take home pay and you can do that through economic growth and that is what we are trying to provide and what we can get if we put the progrowth policies in place. >> chris: a number of top republicans say that when romney picked you as his running mate a little over a month ago that they thought that this indicated that you guys were going to run a bold reform agenda campaign and now expressing some frustration that instead of you changing romney you heard this that they feel that romney is changing you and you are running a much more
we don't want to tax more people with bad tax policy. we want to grow the middle class and get people back to work with higher take home fay. the secret to this is economic growth, chris. the premise of the conversations and tax reform point is as if the economic pie is fixed and that it is governments if job to redistribute the slices. is not how the world works. we want to grow the pie and we want economic opportunity. we want people to be able to get a better job and have more income...
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on top of the extension to the bush tax cuts. >> i don't have a $5 trillion tax cut. i don't have a tax cut. of a scale that you're talking about. i will not reduce the share paid by high income individuals. i know that you and your running mate keep saying that and i know it's a popular thing to say with a lot of people burks it's just not the case. look, i got five boys, i'm used to people saying something that's not always true. >> health care, romney was on offense, touting what he passed in massachusetts as an example of a bipartisan compromise and a model for the whole country at the state level. >> we've seen this model work really well. in massachusetts because governor romney did a good thing, working with democrats in the state to set up what is essentially the identical model. >> i like the way we did it in massachusetts. entirely on a partisan basis instead of bringing america together and having a discussion at this important topic, you pushed through something that you and nancy pelosi and harry reid thought something was the best answer and drove it thr
on top of the extension to the bush tax cuts. >> i don't have a $5 trillion tax cut. i don't have a tax cut. of a scale that you're talking about. i will not reduce the share paid by high income individuals. i know that you and your running mate keep saying that and i know it's a popular thing to say with a lot of people burks it's just not the case. look, i got five boys, i'm used to people saying something that's not always true. >> health care, romney was on offense, touting what...
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would raise taxes on every single tax and who pays income tax. are the texans to pay income taxes we would not raise taxes on? you did not have an answer. >> you will not put words in my mouth. i would say, the first place, we have to balance the budget, cut spending, and raise revenue to reduce the national debt. you have never given any plan to reduce the national debt. anything you even described. talk about the deficit, our current budget, but you never say how you will eliminate $16 billion of the national debt. even tom coburn, one of your heroes, from oklahoma, says we have to raise revenue. we have to cut spending. we have to balance our budget. that is not liberal, that is not conservative, it is just the truth. >> i will make a point that in that entire answer, mr. sadler did not disagree with me once that there is not a single texan who currently pays income tax that he is willing to rule out raising taxes on. i've asked to three times that question, and you have yet to give an answer. >> hold on, what about the question of revenue? he
would raise taxes on every single tax and who pays income tax. are the texans to pay income taxes we would not raise taxes on? you did not have an answer. >> you will not put words in my mouth. i would say, the first place, we have to balance the budget, cut spending, and raise revenue to reduce the national debt. you have never given any plan to reduce the national debt. anything you even described. talk about the deficit, our current budget, but you never say how you will eliminate $16...
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Oct 6, 2012
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we have significant features of the individual income tax, corporate income tax, the estate tax, and apparel text which expire at the end of the year. in a deep sense, we don't know what our tax code is anymore. it would be nice if we emerged on the far side of the fiscal cliff with our leaders could get us back to a situation where we actually know what the tax code is. >> thank you. our next speaker -- speaker will be bob greenstein. >> there are two risks here. the obvious risk to the economy in the short term -- if we go over the fiscal cliff and the aggregate demand comes out of the economy that we will have a relatively mild recession in the first part of 2013 and we would be back and recovery by the second half of 2013. it would be a recession on top of where we are and that is not good. the bigger risk is the rest to the economy in the long term if we keep kicking the can down the road. how do we think about this? there's an interesting report that came out several months ago from the carlyle group. i want to briefly read what it includes. it says there will be a grand bargai
we have significant features of the individual income tax, corporate income tax, the estate tax, and apparel text which expire at the end of the year. in a deep sense, we don't know what our tax code is anymore. it would be nice if we emerged on the far side of the fiscal cliff with our leaders could get us back to a situation where we actually know what the tax code is. >> thank you. our next speaker -- speaker will be bob greenstein. >> there are two risks here. the obvious risk...
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d vo: why won't romney level with us about his tax plan, which gives the wealthy huge new tax breaks? because according to experts, he'd have to raise taxes on the middle class - or increase the deficit to pay for it. if we can't trust him here... how could we ever trust him here? >> throughout our battleground virginia special, we will take a groups offerent voters. >> we are breaking down voters by age, gender, and ethnicity. >> are political team includes cooper.uman and rebecca >> we have been inside both headquarters and the races this close. nodar kumaritashvili is taken for granted. they analyze every demographic no voter is taken for granted. whether it is making a pit stop or knocking back a:at a local watering hole, but tap into a very specific block of voters. >> it is still the second most important vote in america. >> second only to white females. is going tonow what sway me one way or another. mostly i am a democrat, but i made up my mind yet. successfult obama is young, women, hispanic, and black voters. 60%omney needs to get about of the white vote. possible? >> it is
d vo: why won't romney level with us about his tax plan, which gives the wealthy huge new tax breaks? because according to experts, he'd have to raise taxes on the middle class - or increase the deficit to pay for it. if we can't trust him here... how could we ever trust him here? >> throughout our battleground virginia special, we will take a groups offerent voters. >> we are breaking down voters by age, gender, and ethnicity. >> are political team includes cooper.uman and...
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he has a tax cut. if you implemented it, what he says though, and has said from the beginning is that he will pay for that tax cut. when you include that sentence, he then says fairly scored, i have promised as a later date to pay for it. the question has been how are you going to pay for it? why should we believe you when no republican in 20 or 30 years has paid for a tax cut. i'm not sure it is wrong for romney to say that he is going to do a $5 trillion tax cut. the problem is he hasn't told us a word about how he is going to pay for it. the three things he wants to do, have the 20% across the board rate cut and have it paid for while protecting a bunch of tax cuts, they can't be done at once. something has to give and we don't know what it will be. >> he is wrong. because, if we give them the allowance that you are willing to give him, that will be the first time in the history of the discussion of tax policy in our government that anyone has been able to say i don't have a $5 trillion tax cut beca
he has a tax cut. if you implemented it, what he says though, and has said from the beginning is that he will pay for that tax cut. when you include that sentence, he then says fairly scored, i have promised as a later date to pay for it. the question has been how are you going to pay for it? why should we believe you when no republican in 20 or 30 years has paid for a tax cut. i'm not sure it is wrong for romney to say that he is going to do a $5 trillion tax cut. the problem is he hasn't told...
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>> tax and cut, tax and spend? which is better? it tells you if we borrow money -- why government feels it need to take our money away from us? if we have opportunity to invest it in job creation? why can't the government learn to balance its budget? why can't the government tighten its belt like everyone out here in this audience has to but this government does not want to. we're not going to be able to cut spending enough to balance the budget. we need to grow the economy in the way you grow the economy, you take every last dime out of the economy. you let that money stay in and circulate and grow and create the jobs necessary and build that more secure future. you cannot continue to tax your way into prosperity. you can't spend your way into prosperity. small business is the solution if you get the government off the backs. you can't in fact, have more people hired, keep those that already have jobs and expand our economy. you don't do it by raising taxes during a recession. >> well, the fact is if you want to talk about job cre
>> tax and cut, tax and spend? which is better? it tells you if we borrow money -- why government feels it need to take our money away from us? if we have opportunity to invest it in job creation? why can't the government learn to balance its budget? why can't the government tighten its belt like everyone out here in this audience has to but this government does not want to. we're not going to be able to cut spending enough to balance the budget. we need to grow the economy in the way you...
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a tax cut for millionaires. a tax cut for millionaires. next april, david cameron will be writing a check for £40,000 to each and every millionaire in britain. not just for one year. but each and every year. that is more than the average person earns in a whole year. at the same time as they're imposing a tax on pensioners next april. friends, we, the labour party, the country knows it is wrong. it is wrong what they're doing. it shows their priorities. and here's the worse part. david cameron isn't just writing the checks. he is receiving one. he's going to be getting the millionaire's tax cut. [applause] so next week maybe mr. cameron can tell us how much is he awarding himself in a tax cut? how much is that tax cut he is awarding himself? for a job, i guess he thinks is a job well done. how many of his other cabinet colleagues have checks in the post from the millionaire's tax cut? and how can he justify this unfairness in britain 2012. and of course let's not forget this tax cut wouldn't be happening without nick clegg and the liberal
a tax cut for millionaires. a tax cut for millionaires. next april, david cameron will be writing a check for £40,000 to each and every millionaire in britain. not just for one year. but each and every year. that is more than the average person earns in a whole year. at the same time as they're imposing a tax on pensioners next april. friends, we, the labour party, the country knows it is wrong. it is wrong what they're doing. it shows their priorities. and here's the worse part. david cameron...
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he says he's going to lower tax rates but eliminate corporate tax loopholes and personal tax loopholes. i think he has a secret plan to eliminate that tax critical to the middle class. >> do you think that's what viewers walked away thinking? >> i think they walked away thinking mitt romney would be a great used car salesman, but the policies he's articulating will get us right back into the mess that president obama has been working so hard to dig us out of. >> i suspect many walked away last night feeling a bit confused, maybe a bit bored by the technical language and lack of passion. and they are possibly asking the question around the world that many are, which is why can't these guys get together to hammer out a fiscal solution? because actually they were talking about the details, they didn't seem to be so incredibly so far apart on many of the issues. >> were they? >> i was just thinking just now it is too bad steve israel couldn't go out with an obama mask and substitute for the president. there are a lot of points you are making last night that the president missed. >> what wa
he says he's going to lower tax rates but eliminate corporate tax loopholes and personal tax loopholes. i think he has a secret plan to eliminate that tax critical to the middle class. >> do you think that's what viewers walked away thinking? >> i think they walked away thinking mitt romney would be a great used car salesman, but the policies he's articulating will get us right back into the mess that president obama has been working so hard to dig us out of. >> i suspect many...
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because they've got fancy attorneys that pay very little income tax let's suppose after all i'm with you and he would argue that the dependence on reliance is not a good thing we want to help people get off that he's not saying abandon those people and it's actually not saying that more people know he's not he doesn't want to abandon the thirty percent he's saying that seventy percent right now are for that they don't want the american private and i'd like to like i would have been less really really i think everybody wants to marry the american dream that anybody actually going to say i want to know i'm smart to get in i have to change that there right but here's the problem he's not explaining it there is this is sort of this is fair politics this is the old from that one movie i forget the title of it but this is the old thing that what you should be afraid of and who's to blame for it and what they're doing is they're saying you know these people aren't paying enough you're paying more this these aren't solutions any distraction at this point the election for romney any time he's
because they've got fancy attorneys that pay very little income tax let's suppose after all i'm with you and he would argue that the dependence on reliance is not a good thing we want to help people get off that he's not saying abandon those people and it's actually not saying that more people know he's not he doesn't want to abandon the thirty percent he's saying that seventy percent right now are for that they don't want the american private and i'd like to like i would have been less really...
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extension of the bush tax cuts. that's another trillion dollars. and $2 trillion in additional military spending that the military hasn't asked for. >> i don't have a $5 trillion tax cut. i don't have a tax cut of a scale that you're talking about. my view is that we ought to provide tax relief to people in the middle class. >> reporter: all right. two contending points there. only one of them can be right. paul singer, the fact checker here tonight, political editor at "u.s.a. today." who's right? >> mitt romney does have tax cuts in his plan. the issue is it really a $5 trillion tax cut because what he says is if it will -- says but it will make more revenue because it creates more jobs. those people then start paying taxes. so it doesn't actually cut revenues to the government. but there are cuts in the tax rate that individuals pay. i'm not sure how to count whether that is or is not a tax cut. >> reporter: okay. bottom line, $5 trillion not $5 trillion or there is no bottom line? >> the romney-ryan plan has nev
extension of the bush tax cuts. that's another trillion dollars. and $2 trillion in additional military spending that the military hasn't asked for. >> i don't have a $5 trillion tax cut. i don't have a tax cut of a scale that you're talking about. my view is that we ought to provide tax relief to people in the middle class. >> reporter: all right. two contending points there. only one of them can be right. paul singer, the fact checker here tonight, political editor at "u.s.a....
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check this out. >> by kiting taxes, with the big tax cut? >> those are yours, not mine. >> thank you very much, sir. >> that was kind of strange. >> yeah take off that microphone. good luck trying that with joe biden on thursday. >>> plus big bird is still flying high and there are signs now that the great yellow friend is getting under mitt romney's skin. >>> and the inside story of the family intervention inside the romney campaign. it's a real shocker, and it really happened. you're watches "politics nation" on msnbc. [ male announcer ] how do you make america's favorite recipes? just begin with america's favorite soups. bring out chicken broccoli alfredo. or best-ever meatloaf. go to campbellskitchen.com for recipes, plus a valuable coupon. campbell's. it's amazing what soup can do. [ ryan ] it doesn't get any better than endless shrimp at red lobster. you can mix and match all day! [ male announcer ] don't miss red lobster's endless shrimp just $14.99! try as much as you like any way you like! like parmesan crusted shrimp. hurry in, off
check this out. >> by kiting taxes, with the big tax cut? >> those are yours, not mine. >> thank you very much, sir. >> that was kind of strange. >> yeah take off that microphone. good luck trying that with joe biden on thursday. >>> plus big bird is still flying high and there are signs now that the great yellow friend is getting under mitt romney's skin. >>> and the inside story of the family intervention inside the romney campaign. it's a real...
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i am a tax cheat, i don't pay my taxes. if i'm walking down the street and someone has a gun to my head should a scoop protect me? >>lis: of course. yes. you got me both ways because is different. a firefighter for your home should come there and protect you and your children your family whether you pay the fee. the point is it is a fee, not a tax. just to make sure that your community is safe. that's all it is. $150? really? really? really? >> i'm pretty sure whatever reviewing court looks at it will find that the label does not rule the day. it is the effect, which is a levee, a charge, a charge on the taxpayers of california and they will pay it with a two-thirds majority vote. there has to a constitutionality and procedural constitutionality. >> if we allow this to lap in every town, can't they levee the fees all over the place if everything? >>lis: you go, taking it out of the public safety or public service which is where it belongs, you go to the public library, you get a book out, you are late on the book, you get a
i am a tax cheat, i don't pay my taxes. if i'm walking down the street and someone has a gun to my head should a scoop protect me? >>lis: of course. yes. you got me both ways because is different. a firefighter for your home should come there and protect you and your children your family whether you pay the fee. the point is it is a fee, not a tax. just to make sure that your community is safe. that's all it is. $150? really? really? really? >> i'm pretty sure whatever reviewing...
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the economy is languishing worse where looking for more tax hikes and four years ago it was zero tax hikes? we have all been hit now we know how the middle-class and people will be affected. obamacare has at least seven pin tax hikes and 30 more on top of that. charles: we discover a couple more every month. [laughter] but i know this bothers you. the vice president throws numbers out there that the rich are getting over $1 trillion from view. that never seems out of left field but resonates better they got tired of talking about millionaires and billionaires. >> i am spectacular the perplexed by joseph biden. at least the is consistent. this is simply incorrect if the administration believes by raising taxes we can get ourselves into solvency, he is simply incorrect. mitt romney talking about the tax issues how to back out of this situation was awesome. >> i don't know if they believe this helps economically with us verses them redressing the wrongs for those who benefited the most until four years ago. >> we have seen this obama's touting the buffer role with the minimum tax for mi
the economy is languishing worse where looking for more tax hikes and four years ago it was zero tax hikes? we have all been hit now we know how the middle-class and people will be affected. obamacare has at least seven pin tax hikes and 30 more on top of that. charles: we discover a couple more every month. [laughter] but i know this bothers you. the vice president throws numbers out there that the rich are getting over $1 trillion from view. that never seems out of left field but resonates...